H.R. 1042--the Net Worth Amendment for Credit Unions Act: Hearing Before the Subcommittee on Financial Institutions and Consumer Credit of the Committee on Financial Services, U.S. House of Representatives, One Hundred Ninth Congress, Second Session, April 13, 2005 |
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Page 2
... FASB fully imple- ments its policy for credit unions . FASB's proposed change to accounting rules , along with an amendment to the Federal Credit Union Act , that allows NCUA to recognize " any amounts that were previously retained ...
... FASB fully imple- ments its policy for credit unions . FASB's proposed change to accounting rules , along with an amendment to the Federal Credit Union Act , that allows NCUA to recognize " any amounts that were previously retained ...
Page 5
... FASB's recommendations and their impact on mutuals . My testimony today is to urge your support of H.R. 1042 , the Net Worth Amendment for Credit Unions Act . This act amends the Federal Credit Union Act to clarify the definition of net ...
... FASB's recommendations and their impact on mutuals . My testimony today is to urge your support of H.R. 1042 , the Net Worth Amendment for Credit Unions Act . This act amends the Federal Credit Union Act to clarify the definition of net ...
Page 7
... FASB's role ? Is that what I think I heard you say ? Mr. HERZ . Yes . I mean , from our perspective I am certainly not an expert in what constitutes appropriate regulatory capital or cap- ital adequacy . That is up to the regulators ...
... FASB's role ? Is that what I think I heard you say ? Mr. HERZ . Yes . I mean , from our perspective I am certainly not an expert in what constitutes appropriate regulatory capital or cap- ital adequacy . That is up to the regulators ...
Page 14
... ( FASB ) accounting rule will have on credit union mergers . FASB's Statement of Financial Accounting Standard 141 , scheduled to take effect for mutual enterprises such as credit unions early next year , requires credit unions to follow ...
... ( FASB ) accounting rule will have on credit union mergers . FASB's Statement of Financial Accounting Standard 141 , scheduled to take effect for mutual enterprises such as credit unions early next year , requires credit unions to follow ...
Page 16
... ( FASB ) accounting rule on credit union mergers . Because this new accounting rule is expected to become effective early ... FASB's directive changing the accounting treatment of credit union mergers from the " pooling method " to the ...
... ( FASB ) accounting rule on credit union mergers . Because this new accounting rule is expected to become effective early ... FASB's directive changing the accounting treatment of credit union mergers from the " pooling method " to the ...
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Common terms and phrases
accepted accounting principles accounting and reporting accounting for business Accounting Standards Board acquired equity Amendment for Credit April 13 auditors Board meetings business combinations CFA Institute Chairman Bachus combinations between mutual Credit Union Act credit union industry credit union mergers Credit Union Supervisors dual chartering due process EITF FASB website FASB's Federal Credit Union federally insured credit field visits Financial Accounting Standards financial information Financial Institutions financial reporting financial statements GAAP goodwill IASB including credit unions Institutions and Consumer insured credit unions intangible assets interpretative guidance issuance legislation merging credit union method of accounting million in retained mutual enterprises NASCUS National Credit Union NCUA pooling method proposed standard provisions of H.R. public roundtable purchase accounting Purchase Method Procedures regulatory retained earnings RON PAUL safety and soundness Spencer Bachus Standards Board FASB standards of financial Statement 141 surviving credit union Thank users of financial Worth Amendment worth ratio